Panasonic leaving European mobile market?

This year, Panasonic wanted to re-enter the European market, offering few Eluga smartphones. However, that hasn’t worked as planned so the company may quite its European affair less than a year after announcing the bold expansion plans.

According to Nikkei business daily, the Japanese giant has strong yen coupled with financial uncertainty in Europe and low margins across the mobile industry to “blame” for this decision. Reuters, on its end, cites two sources saying that the withdrawal will happen sometime in the next six months.

If you recall, Panasonic’s original plan was to sell a combined 15 million smartphones worldwide in 2015. That will obviously have to wait for some better times…